Peter Renton, well known blogger at Lendacademy and founder of the Lendit Conference starts a fund (Lend Academy Investments LLC) that will invest in p2p loans at Prosper, Lending Club and Funding Circle. Co-founders are Jason Jones, a former hedge-fund manager, and Bo Brustkern, a valuation expert. The fund will raise 28 million US$ this year and aims to raise 100 million US$ from investors by the end of 2015.
‘P2P Income Partners‘ is a new investment fund by Symfonie Capital that will invest capital in p2p loans. The founder, Michael Sonenshine, an ex-investment banker, told P2P-Banking.com that he plans the first tranche to be 25 million Euro. He says: “Initially we will invest in loans issued by sites such as Prosper, Lending club, Funding Circle, Zopa, Isepankur and we will add fonds to the mix as we see fit. The P2P market is not only web-based. There are opportunities to make direct loan across Europe. The key to success is spreading the risk and doing careful due diligence.”. The fund is open to qualified investors. Minimum investment is stated as 100,000 US$.
The Industrialisation Fund for Developing Countries (IFU) and CSR Capital have decided to invest a total of DKK 15 million (approx. EUR 2.2 million) in Africa through MYC4. The Danish Development Minister Ulla Tørnæs supports the decision.
“This is an extremely important milestone for MYC4. That IFU and CSR Capital now invest through MYC4 is an endorsement of our initiative as a serious tool in the fight to eradicate poverty in Africa through the marketplace myc4.com,” says CEO of MYC4 Mads Kjær and continues:
“We hope this will inspire financial institutions, pension funds and companies to invest in Africa through MYC4. We are already well under way, but to make a significant difference for the development in Africa, this kind of investors play an important role.”
Danish Development Minister Ulla Tørnæs warmly welcomes IFU’s initiative to invest in Africa through MYC4.
“Danida has been the facilitator for MYC4. Through the Public Private Partnerships, Danida has supported the development of MYC4. I am glad to see the interest and support for the new marketplace. It shows the economic potential for investments in Africa,” says Tørnæs.
DKK 10 million from IFU, 5 from CSR Capital
IFU is an independent fund under the Danish Foreign Ministry. IFU’s purpose is to promote economic development in developing countries in partnership with the Danish industry, and now the fund invests DKK ten million in Africa through MYC4.
“With the investment IFU wants to contribute to poverty reduction and business development of small and medium enterprises in Africa,” says Investment Manager Kasper Svarrer from IFU.
In addition, the private investment firm CSR Capital invests DKK five million through MYC4. CSR Capital focuses specifically on social and environmentally sustainable investments:
“Good investments and development can and must go hand in hand in order to create the basis for sustainable economic, environmental and social growth and welfare in any society”, says CEO of CSR Capital Sven Riskær.